Aug 15, 2014
By Scott Walker
You can almost hear the sighs of relief from Parliament Hill.
The economy created way more jobs in July than Statistics Canada reported a week ago.
StatsCan was forced to revise last week’s gloomy report after it discovered an error in its number crunching.
It reported last Friday morning that the economy had only turned out 200 jobs. It turns out the correct number is 42,000 jobs.
That is double what economists had been expecting.
The agency says last week’s incorrect report was due to human error.
The news is not all good. The economy shed 18,000 full-time jobs last month, but created 60,000 less-desirable part-time positions.
Part of last week’s report was correct. The unemployment rate dropped last month to 7.0 per cent from 7.1 per cent in June.